以下文章来源于睿兽Pro ，作者Bestla 睿兽Pro . 创业邦旗下横跨一二级市场的科创数据平台。实时投资数据、追踪产业创新。找数据、做分析、链资 源，就上睿兽分析。 一、 长存（武汉）私募基金管理有限公司（简称"长存基金"）成立于2023年5月，注册资本2000万 元人民币，由长存资本（武汉）投资管理有限公司（简称"长存资本"）全资持股 。 长存资本为长江 存储科技有限责任公司（简称"长江储存"）旗下投资平台，长江储存是一家专注于3D NAND闪存设 计制造一体化的IDM集成电路企业，由此推断，长存基金的投资方向将与长江存储的业务布局相契 合，投向智能制造领域。 （资料来源：半导体行业联盟、天眼查） 二、 深圳市 罗湖私募股权投资基金管理有限公司（简称"罗湖私募"）成立于2025年4月，注册资本 2000万元人民币，由深圳市罗湖战略新兴产业投资有限公司（简称"罗湖产投"）全资持股，从股东 背景判断，该机构属于国资机构。罗湖产投为深圳市罗湖投资控股有限公司（简称"罗湖控股"）子公 司，罗湖控股是罗湖区出资设立的国有独资企业，主要通过投融资的方式，初步形成了片区综合开 发、产业空间运营、新兴产业投资、科技金 ...

Company Overview - Shenzhen ZR Investment Co., Ltd. was established in 2015, focusing on subjective long-only equity strategies with a registered capital of 10 million [6][7] - The founder and core fund manager, Wang Zhongyuan, has 32 years of experience, including 9 years in public funds and 10 years in private equity, with a cautious and flexible investment style [6][9] Development History - The company launched its first product "ZR Investment No. 1" in November 2015 and became an observer member of the Asset Management Association of China in May 2018 [7] - By February 2024, the management scale exceeded 500 million [7] Investment Philosophy & Strategies - The investment philosophy emphasizes risk control, aiming for absolute returns while maintaining a low drawdown [10][9] - The strategy includes top-down macro position timing and style rotation, alongside bottom-up selection of growth and value stocks [10][14] Core Advantages - The company boasts a long public performance record of nearly 20 years, with a historical maximum drawdown of only 18% [16][17] - It has achieved positive returns in 9 out of the last 10 years, with an annualized return rate of nearly 17% [18] - The investment approach is diversified, avoiding heavy bets on single industries or stocks, thus capturing sectoral benefits [20] Market Outlook - The company is optimistic about the Hong Kong stock market, which has seen nearly a 20% increase in major indices, driven by new core assets such as high dividend and high repurchase stocks [21] - The macroeconomic environment remains challenging, but the easing monetary policy and demand for asset allocation are expected to support bank-like assets [21][22] Value Creation for Clients - The company assists clients in timing positions to avoid systemic risks, optimizing industry allocations, and controlling drawdowns through diversified investment strategies [22]

Core Insights - In July 2025, the Asset Management Association approved the registration of 16 private equity and venture capital fund managers, an increase of 4 from the previous month, with an equal split of 8 state-owned and 8 market-oriented institutions [1] Group 1: Fund Managers Overview - Changcun (Wuhan) Private Fund Management Co., Ltd. was established in May 2023 with a registered capital of 20 million RMB, fully owned by Changcun Capital, which is linked to Yangtze Memory Technologies Co., Ltd. The fund is expected to focus on smart manufacturing [3] - Shenzhen Luohu Private Equity Investment Fund Management Co., Ltd. was established in April 2025 with a registered capital of 20 million RMB, fully owned by Shenzhen Luohu Strategic Emerging Industry Investment Co., Ltd., a state-owned enterprise [3] - Tonghao Venture Capital Fund Management (Beijing) Co., Ltd. was established in May 2025 with a registered capital of 100 million RMB, fully owned by Tonghao Group Capital Operation Co., Ltd. The fund aims to leverage core technologies in intelligent transportation and smart cities [3][4] - Zhejiang Changyu Private Fund Management Co., Ltd. is a new fund manager under Zhejiang Changsanhe Holding Group, focusing on new energy vehicles and key components [4] - Beijing Shenghong Zhixin Private Fund Management Co., Ltd. was established in December 2023 with a registered capital of 10 million RMB [4] Group 2: Registration and Capital Analysis - Among the 16 newly registered fund managers, 10 have a paid-in capital ratio of 100%, while Wuxi Zhanzhen Fund has the lowest paid-in capital ratio at 25% [11][12] - The fastest registration process was for Suqian Zhanzhen Private Fund, taking only 28 days, while Changcun Capital took 451 days [13] Group 3: Legal Services - A total of 12 law firms provided services for the registration of the new fund managers, with Guohao Law Firm (Shanghai) serving three of them [14][15]

Core Viewpoint - The article highlights the significance of small and high-quality private equity fund managers in the industry, focusing on ZhiRuiXing Investment, which specializes in subjective long positions in stocks and has a strong track record in risk control and absolute returns [8][26]. Company Overview - ZhiRuiXing Investment was established in 2015, with a registered capital of 10 million. It is located in Shenzhen and has become a member of the Asset Management Association of China [8][9]. - The founder and core fund manager, Wang Zhongyuan, has 32 years of experience in the industry, including nearly 20 years of public performance records and has managed public funds exceeding 100 billion [8][12]. Development History - The company launched its first product in November 2015 and became an observation member of the China Fund Industry Association in May 2018. It received investments from Guotai Junan and CICC Wealth in 2019 and 2023, respectively [9][10]. - ZhiRuiXing's management scale surpassed 500 million in February 2024, marking its tenth anniversary in January 2025 [9]. Investment Philosophy & Strategies - The investment philosophy emphasizes risk control, aiming for absolute returns while maintaining a low drawdown. The strategy includes flexible and balanced asset allocation, focusing on both growth and value stocks [14][21]. - The company employs a top-down approach for macro position timing and style rotation, while also conducting bottom-up stock selection to identify "gray horse" stocks with growth potential and valuation appeal [16][17]. Core Team - The core team has over ten years of experience in public funds, securities firms, and private equity, ensuring a robust foundation for investment strategies [11]. Performance Metrics - ZhiRuiXing has achieved positive returns in 9 out of the last 10 years, with an annualized return of nearly 17%, successfully navigating multiple market cycles [22][24]. - The maximum historical drawdown of its products is only 18%, showcasing strong risk management capabilities [21]. Market Outlook - The company is optimistic about the Hong Kong stock market, which has seen nearly a 20% increase in major indices. It anticipates continued interest in core assets such as high-dividend stocks, new consumption, and AI-related sectors [26][28]. - The macroeconomic environment presents challenges, but the development of new industries, particularly in AI, is seen as a critical area for future investment opportunities [28].

Core Insights - The A-share market is experiencing a sustained recovery, leading to a record high in private fund product registrations, particularly in index-enhanced products [1][2] - The increase in private fund registrations is driven by the positive performance of the A-share market and the strong performance of private securities products [1][2] Private Fund Registration Data - In July, 1,298 private securities products were registered, marking an 18.00% month-on-month increase and the highest level in nearly 27 months [1][2] - Year-to-date, a total of 6,759 private securities products have been registered, reflecting a year-on-year increase of 61.39% [2] - Among the registered products in July, stock strategy products accounted for 887, representing 68.34% of the total, with a month-on-month growth of 24.58% [3][4] Strategy Breakdown - Stock strategy products dominate the registration numbers, followed by multi-asset strategy products, which saw 162 registrations in July, accounting for 12.48% of the total [3][4] - In the stock quant products category, index-enhanced products saw a significant increase, with 321 registered in July, making up 67.15% of the stock quant total and a month-on-month growth of 52.13% [4] Market Sentiment and Performance - The overall market sentiment is positive, with nearly 90% of private securities products achieving positive returns year-to-date, averaging a return of 12.8% [7] - The strong performance of quant strategies, particularly in small-cap growth and high-dividend sectors, has contributed to the positive market outlook [8] Future Outlook - The private fund industry is seeing continuous optimization on the supply side, with top-tier institutions and quality products emerging, enhancing overall competitiveness [5] - Market participants express optimism about future developments, focusing on pure long and index-enhanced products as key areas for investment [6]

人民财讯8月6日电，8月6日，证券时报记者从江苏投资基金业协会获悉，截至2025年6月底，注册在江 苏的私募基金管理人共有1203家，占全国总数量的6.09%，位居全国第五。其中，私募股权、创业投资 基金管理人932家，占比77.47%，居主导地位；私募证券投资基金管理人258家，占比21.45%；其他私 募投资基金管理人13家，占比1.08%。 ...

Core Viewpoint - The article highlights the growing prominence of quantitative private equity funds, which have outperformed subjective funds in terms of absolute and excess returns, leading to an increase in the number of billion-yuan quantitative private equity firms [2][17]. Group 1: Market Overview - As of July 25, 2025, there are 90 billion-yuan private equity firms, with quantitative firms increasing to 44, while subjective firms decreased to 39, indicating a shift in market dynamics [2][8]. - The distribution of billion-yuan private equity firms is concentrated in major cities, with Shanghai leading at 39 firms, followed by Beijing with 24 and Shenzhen with 6 [8]. Group 2: Firm Changes - Three subjective private equity firms exited the billion-yuan club: Hongchou Investment, Suijiu Investment, and Heyuan Fund, while three new firms entered, including two quantitative firms: Qianyan Private Equity and Shanghai Boke Private Equity [4][5][6]. - The newly established Shanghai Boke Private Equity is noted for its young age, having been founded in July 2022, and aims to provide a comprehensive fund management platform [6][7]. Group 3: Performance Metrics - Among the billion-yuan private equity firms, 42 have shown positive returns this year, with the top three performers being Fusheng Asset, Qukou Investment, and Wenbo Investment [15][21]. - Quantitative private equity firms have significantly outperformed subjective firms this year, with average returns for quantitative firms being higher than those for subjective firms [17][21]. Group 4: Investment Strategies - The majority of billion-yuan private equity firms focus on stock investment strategies, totaling 69 firms, followed by multi-asset strategies with 12 firms and bond strategies with 6 firms [9][19]. - Wenbo Investment, established in 2014, utilizes a unique quantitative investment model that analyzes economic data to develop various investment strategies [19].

本文首发于公众号"私募排排网"。 （点击↑↑ 上图订阅专栏 ） 在2025上半年北京地区量化榜中，信弘天禾上半年以***%的收益夺冠 （ 点此看收益 ） 。 基金经理张华和章毅管理的"信弘征程2号B类 份额"上半年收益为***%，表现较为突出。 在2025半年度中证500指增产品榜中， 信弘天禾的"信弘中证500指数增强2号A类份额"，以***%的超额收益排名第一 ，上半年绝对收益 则为***%。 （ 点此看收益 ） 下面，就让我们一起深入了解信弘天禾。 （ 左右滑动下方图片看更多榜单 ） 编者按 在财富管理的大航海时代，私募基金以其灵活的策略、专业的团队和追求绝对收益的目标，吸引了越来越多高净值投资者的目光。然而，这个 行业也因其信息较少、不对称等特性，蒙上了一层神秘的面纱。策略如何运作？团队水平如何？短、中、长期业绩表现如何？风险控制究竟如 何……这些问题，往往是投资者在做出决策时，最难穿透的"迷雾"。正是基于此，私募排排网隆重推出 "深度 揭秘100家 私募" 栏目。为投资 者拨开云雾，提供真正有价值的深度洞察。 第三期我们将揭秘 百亿量化私募信弘天禾 ，信弘天禾在2025上半年的榜单中勇夺多个第一 。 ...

Group 1 - In July, the A-share market experienced a significant recovery, leading to a surge in the registration of private securities funds, with 1,298 funds registered, marking an 18% month-on-month increase and setting a new record for monthly registrations since 2025 [1] - The increase in private fund registrations is attributed to three main factors: the strong performance of the A-share market boosting investor confidence, the excellent performance of quantitative strategy products attracting substantial capital inflows, and the improved supply from leading institutions enhancing overall competitiveness in the private fund industry [1] - Among the strategies, equity strategies dominated, accounting for nearly 70% of the registered products, with 887 equity strategy private funds registered, representing a 24.58% month-on-month growth [1] Group 2 - The multi-asset strategy is gaining traction, with 162 funds registered in July, accounting for 12.48% of the total, reflecting a 5.88% month-on-month increase, indicating a growing demand for diversified investment [2] - The futures and derivatives strategy also showed steady growth, with 125 funds registered, making up 9.63% of the total, and a slight month-on-month increase of 1.63%, maintaining a stable growth trend [2] - In contrast, the bond strategy and combination fund strategy had relatively low registration numbers, suggesting an increase in investor risk appetite in the current market recovery context [2] Group 3 - The registration activity was led by large-scale private fund institutions, with 676 private institutions completing product registrations, including 48 billion-level private institutions, which accounted for a significant portion of the total registrations [2] - Among the top twelve institutions by registration volume, all were billion-level private institutions, collectively registering 198 private funds, highlighting the dominance of larger players in the market [2] - The quantitative private fund institution Inno (Shanghai) Asset Management registered 7 private funds in July, emphasizing the importance of adaptability, stability, and risk control mechanisms in a complex market environment [3]

证券代码：000910 证券简称：大亚圣象 公告编号：2025—023 大亚圣象家居股份有限公司 关于参与认购投资基金份额的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 （有限合伙） 见公司于 2025 年 7 月 17 日在《证券时报》、《中国证券报》和巨潮资讯网 （www.cninfo.com.cn）上披露的《关于参与认购投资基金份额的公告》（公告编 号：2025-021）。 二、对外投资进展情况 近日，公司收到基金管理人国龙私募基金管理（上海）有限公司的通知，投 资基金已募集完毕，其中公司实缴出资人民币 1,500 万元。投资基金的各合伙人 实缴出资情况如下： | 出资额 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 合伙人名称 | 合伙人类型 | | | | 出资比例 | | | （万元） | | | | | | | | 国龙私募基金管理（上海） | | | | | | | | 普通合伙人 | | 50 | | | 0.94340% | | | 有限公司 | | | ...